Property Forum’s next virtual event will take a closer look at the immediate and long-term effects of the coronavirus lockdown of real estate financing in CEE. Hear the economic outlook of Commerzbank’s Senior EM Strategist and listen to the discussion of influential bankers. Participants will also have the chance to ask questions and share their personal experiences.
The preliminary investment volumes for the CEE region for Q1 2020 have reached ca. €3.7 billion, despite the onset of COVID-19 in CEE at the beginning of March. This volume was significantly boosted by the ca. €1.3 billion acquisition of the Residomo portfolio in the Czech Republic by Heimstaden, however, it still represents a y-o-y growth of 68% over Q1 2019 (ca. €2.2 billion) and 28% over Q1 2018 (ca. €2.9 billion).
In view of the COVID-19 pandemic, the Management Board of CA Immo has decided to reschedule the 33rd Annual General Meeting from originally 7 May 2020 to 25 August 2020. As a result, the resolution on the appropriation of net profit for 2019 and a dividend payment will also be postponed.
A new weekly EMEA COVID-19 research report from Cushman & Wakefield, 'COVID-19 Impacts For EMEA Real Estate', outlines the sweeping impact the COVID-19 crisis is having on the European hotel market in 2020.
Panattoni is extending a production plant making specialised telecommunications systems at Panattoni Park Szczecin I. Next to the existing 32,000 sqm, the developer will build a further 24,000 sqm. As a result, this June the logistics and industrial complex will be 80 percent completed, and by year-end Panattoni intends to embark on the construction of the final 42,000 sqm phase of the park, completing the entire project planned to total 220,700 sqm.
Generali Real Estate has acquired the Kotva department store in Prague for an undisclosed sum from Pražská Správa Nemovitostí (PSN) through its pan-European fund Generali Real Estate Asset Repositioning SA (GREAR).
Most CEE governments have already introduced measures aimed at helping employed people and struggling businesses amid the coronavirus outbreak. In most countries, at least half of the average wage will be taken over by the state, up to 80% or more in certain countries. Hungary is the only country in the region where no concrete measures have been announced yet. We looked at what workers of affected companies can expect across the region.
JLL and CBRE have been selected by Immobel Poland as agents responsible for the commercialization process of Central Point in Warsaw. The investment is being built on the corner of Marszałkowska and Świętokrzyska Streets and above an intersection of the two metro lines of Warsaw.
AFI Europe Romania announces the rescheduling of the opening date for AFI Brasov, the largest shopping centre project to be delivered in Romania in 2020. Initially planned for the spring of this year, the opening date is now scheduled for the autumn of 2020, should the overall social conditions allow it.
Retail is among the real estate sectors most affected by the COVID-19 crisis. As most stores have been ordered to close across Europe, retail landlords face an unprecedented challenge. Duarte Cabral, Deputy Managing Director EMEA at Sonae Sierra shared with us his initial impressions on this rapidly evolving situation.
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Milan, Germany, Bucharest, Budapest, Belgrade, Bratislava and Prague.